Africa must shift to local mineral processing amid US trade aggression – Mining Indaba

Africa must process its minerals at home as de-globalization and a brewing US trade war threaten raw exports… was the refrain heard in the ongoing Mining Indaba in Cape Town. Africa’s leaders demand a shift from exporting raw resources to local beneficiation. They want to capitalize on a growing supply gap in critical minerals as countries turn inward.

Speakers at the forum, “Future-proofing African Mining, Today,” emphasized how Africa must transform raw materials into finished products. If not, the continent may lose economic value and control over its mineral wealth and its economic future.

Reportedly, last year, the South African mining industry contributed 6% to the nation’s nominal gross domestic product, down from 6.3% in 2023. It exported goods worth about R800 billion ($42 billion), accounting for 45% of all merchandise exports.

The need for local beneficiation intensifies against the backdrop of a mining sector under pressure.